ACC to sell off its refactories in MP

PTIAug 31, 2005, 02.55pm IST

MUMBAI: Associated Cement Companies Ltd on Thursday said it will sell off its refractories undertakings in Madhya Pradesh for Rs 257 crore to ICICI Venture Fund.The shareholders have approved, by way of postal ballot, the sale of company's Katni Refractory Works situated in Katni district and Nagpur Refractory Works, situated in Nagpur district, in Madhya Pradesh to ICICI Venture Fund Management Company Ltd or its nominees for a total consideration of Rs 257 crore, the company informed the Bombay Stock Exchange.